Q2 2019 Manhattan Market Report

 

Second quarter ended with overall average asking rents being up eight percent from the previous quarter, $85.37 PSF from $78.98 PSF. Downtown activity has outpaced Midtown and Midtown South accounting for an average of 17% of all leasing activity during the first two quarters. This is due in part to cheaper rents in quality buildings, enhanced transit connectivity and an improving retail landscape. These components are a common theme as occupiers continue to be attracted to both Downtown and the Hudson Yards development.

For Further information on Rental and Availability Rates, Market Trends and Inventory, please download the full report.